Lessee Liability Insurance Case

Lessee Liability Insurance Helps Enterprises Reduce Operating Costs and Improve Profit Margins


Business Profile

Lessee liability insurance is a security service product for automobile rental enterprises which provided by WanWay tech. The product content covers customized insurance, vehicle management loud system, business management cloud system and Internet of vehicles equipment which based on the usage frequency as the billing standard. WanWay tech has applied lessee liability insurance in the field of car rental. Through the application of Internet, big data and Internet of things technologies, it is possible to customize insurance on demand. At the same time, aiming at the safety requirements of time-sharing leasing and automobile leasing, we provide Internet equipment for automobiles and Saas software which suitable for the industry to help enterprises realize remote monitoring, intelligent operation analysis and maintenance claim management which provide all-round optimal guarantee for automobile leasing enterprises.


As for wicked points of the Industry, WanWay tech innovatively establishes a unified system of charging insurance premiums according to the duration of use and remote vehicle monitoring. Based on the installation of GPS equipment, WanWay provides daily vehicle behavior data for the RMS vehicle monitoring platform, which in turn serves as the basis for premium settlement. Customers use the method of advance payment and tranfer the traditional annual premium payment to the monthly payment, which can greatly optimize the enterprise cash flow and reduce the costs.

Install GPS Location Service Terminal to Obtain Real-time Vehicle Usage

WanWay tech provide all customers with most intelligent network equipment, most advanced and reliable car SaaS software system in charterer’s liability insurance business system, which promote the upgrade of Internet and car rental service. What’s more, WanWay also implement all vehicle data management, real time monitoring of tracking vehicle state, safe driving speed, range early warning, maintenance management, accident claim management, intelligent analysis of risk factors while ensuring insurance saving and security management, which can realize the integration of risk and safety management.

Based on Half-day/Full-day to Charge the Premium

Utilizing comprehensive traffic data collection as the basis to realize premium charge according to the half-day/day driving condition can dramatically reduce annual premium of the car. For instance, if a car is 100000 yuan and traditional annual car insurance premiums is 4500 yuan, the lessee liability insurance can save costs of more than 10% to achieve 600 yuan insurance balance of above and through adopt monthly delivery to charge premium, which can reduce the insurance premiums and optimize cash flow of the enterprise.

Utilizing Online Electronic Insurance Policy System to Achieve Business Rapidly

The online electronic insurance policy business system can realize online insurance, settlement, renewal, monitoring, so that the business can work more effectively.

Product Superiority

Claims are Guaranteed for Every Order

Traditional operating vehicles have a certain amount of liability insurance compensation amount up to 1 million yuan every year. Once the annual compensation amount reaches the upper limit, the compensation after that will no longer be paid by the insurance company. However, micro-bank insurance takes each order as the charging standard, and the lessee will get the maximum limit insurance for each lease, so that the accident compensation will be more guaranteed.

Optimize Corporate Cash Flow

The payment method of lessee’s liability insurance products is different from traditional commercial annual advance payment. By using vehicles real-time data to pay premium monthly to insurance company can change annual payment to monthly payment. Therefore, insurance costs will no longer occupy the company’s capital, which can enhance reasonable planning cash flow of the leasing company.

According to Usage Rate to Pay Premium Can Save Premium Expenditure

The pricing method of lessees’ liability insurance of WanWay means that in the short-term car rental or time-sharing car rental business, if the car does not reach the 30-day rental rate at the end of each month, the premium cost will be saved compared with the previous one. This kind of insurance covers the vacancy cost of the vehicle when it is waiting for lease or maintenance to the greatest extent. In other words, if the vehicle is used less, the insurance premium will be paid less. Compared with traditional commercial auto insurance, the cost payment is more fair and reasonable.

Customer Returns

For the auto financing lease industry, by replacing the traditional auto insurance with the lessee liability insurance, customers can reduce the premium expenditure and corporate can optimize the cash flow and improve the profit margin.